The performance of the global crypto market has shown improvement recently. The addition of a considerable value for Bitcoin as it has crossed $22K and altcoins has been a good omen for the market. It has been for the first time in recent weeks that the market has shown such resilience. The global market cap value has also increased as the market continues to improve.
Coinbase had faced rumors of insolvency in Europe, but it has repudiated all these rumors as it gained license. The license’s approval proves that it remains strong and can handle the vast market. As it has been given a crypto asset service provider license in Italy, it is seen as a major achievement as the market remains bearish.
Coinbase has faced problems as it shut down its affiliate marketing program in the US and closed the Coinbase Pro program. According to its official blog, its license was approved by Organismo Agenti e Mediatori. Coinbase is one of the few companies that has been granted this license. While those not having the license can’t provide services in Italy.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Binance Coin, and others.
BTC crosses $22K
Bitcoin data for the recent months shows that it has been through extreme difficulties. According to Glassnode, Bitcoin endured two major capitulation events in H1. One of these events was due to the LUNA collapse, which shook the market.
The latest data shows that Bitcoin has added 3.19% over the last day. If we compare the weekly performance, the gains for Bitcoin are about 7.39%. The increased push of gains has enhanced its price value.
The current price value for Bitcoin is in the $22,081.43 range. If we compare the market cap value for Bitcoin, it is estimated to be $421,685,557,636. The 24-hour trading volume of this coin is about $34,887,444,011.
BNB being speedy in gains
Though Binance has seen growth, it has also seen some serious debacles. One is a fine of 3.3 million Euro from the Dutch central bank. The fine was slapped because of its operation in the country without any registration. It would need legal documents to operate in the country.
Binance Coin has also added speedy gains as the influx of capital continues. The latest data shows that it has added 3.19% over the last 24 hours. The seven-day performance shows an addition of 11.99%.
The price value for BNB is about $260.51. If we look at the market cap value for this coin, it is estimated to be $42,534,902.690. The 24-hour trading volume of this coin is about $1,359,454,606.
XRP boosts its growth
XRP has also added gains as the market remained favorable. The addition of new capital has brought gains of 2.99% over the last day. The weekly performance shows an addition of 10.86%. The consolidated bullishness has helped its price value reach $0.3625.
The market cap value for XRP is estimated to be $17,523,632,233. The 24-hour trading volume of the same coin is about $1,530,174,043. The same amount in its native currency is about 4,221,348,497 XRP.
DOT adds a considerable value
Polkadot has also been bullish as it has added 4.66% over the last 24 hours. The seven-day performance shows that it has added 8.72%. The continued momentum has brought its price value to the $7.46 range. If the gains continue, its price value will consolidate further.
The market cap value for DOT is estimated to be $7,364,910,795. The 24-hour trading volume of the same coin is about $482,111,273. The circulating supply of the same coin is about 987,579,315 DOT.
Final Thoughts
The global crypto market has seen considerable improvement. These changes have brought gains to Bitcoin, Binance Coin, and others. The increased influx of capital has resulted in increased investor trust. As the influx increased, the global market cap value also enhanced. The latest data shows that it has reached $1.01 trillion. For the first time in the recent few weeks, it has crossed $1 trillion.
